2026 Sfil and Caffil Funding Outlook

For the year 2026, Sfil Group plans to issue a total volume between EUR 7 and EUR 9 billion, both under covered bond format via Caffil, and via issuance by Sfil in the SSA market.

Sfil will focus on the issuance of liquid benchmark transactions with a planned funding volume between EUR 1 and EUR 3 billion. The total outstanding  benchmark volume for Sfil currently amounts to around EUR 14 billion equivalent.

Caffil intends to issue between EUR 6 to EUR 8 billion under covered bond format. Issuance will include benchmark transactions, taps and private placements, with a focus on long maturities, depending on investor demand.

We plan to further develop issuance under ESG format, with at least one Green Bond and one Social Bond planned for 2026 under the Green, Social and Sustainability Bond Framework.This aligns with our target of 1/3 of our annual issuance under ESG format over the period 2024 to 2030.